asterisk2a + loans   21

5 Charts That Prove Millennials Are Worse Off Than You | Zero Hedge
Indeed, the typical millennial in the U.K., which the think tank defines as aged 15 to 35, earned about 8,000 pounds (the equivalent of around $10,600) less during their 20s than did those in Generation X.
Millennials  triple-lock  pension  wage  stagnation  wage  growth  student  debt  Loan  Bubble  student  student  debt  student  loans  income  growth  income  inequality  income  distribution  inequality  Gini  coefficient  social  mobility  income  mobility  Baby  Boomers  babyboomers 
july 2016 by asterisk2a
Universities announce fees above £9,000 limit
Universities in England are already announcing a tuition fee increase above the £9,000 limit before Parliament has even finished debating plans which would pave the way to raise fees.
University  tuition  fee  Conservative  Party  Tories  nasty  Justine  Greening  Nicky  Morgan  Michael  Gove  Theresa  May  David  Cameron  Nick  Clegg  Liberal  Democrats  UK  student  debt  Loan  Bubble  StudentLoans  student  student  loans  discretionary  spending  disposable  income  debt  servitude 
july 2016 by asterisk2a
The Incredible Shrinking Middle Class - YouTube
Canada: Generation Jobless - https://youtu.be/4UUuMWqA8eE - "The Plight of Younger Workers" (Report).& underemployed graduates w fancy sounding degrees. [...] EDUCATION INFLATION! [...] an education does no more guarantee a comfortable middle class jobs, and parents are disappointed. [...] globalisation of workforce plus automation, robotics, AI, augmented intelligence. the new GM's and Toyota's and DuPonts need less and less workers to catch ever greater pies of the current and future economy. [...] rise of the project focused self-employed and the Gig Economy. //&! (USA) Invisible Reality; The Working Poor - youtu.be/806PSngTKgg //&! FULL STORY: Generation Poor - youtu.be/lB4w8MQPdEE //&! FULL STORY: The Labour Trap - youtu.be/cHBo3LgXUPA - precarious work is now more and more the norm. as well as exploitation of those conditions.
squeezed  middle  class  working  poor  Precariat  precarious  employment  precarious  work  Zero  Hour  Contract  part-time  part-time  employment  underemployed  underemployment  structural  unemployment  overqualified  overqualification  social  mobility  income  mobility  western  world  USA  secular  stagnation  GFC  economic  history  Student  Loan  Bubble  debt  loans  youth  unemployment  demographic  ageing  population  Canada  OECD  low  pay  globalisation  emerging  middle  class  automation  Robotics  Robots  AI  artificial  intelligence  augmented  intelligence  self-driving  cars  autonomous  car  autonomous  cars  linkedin  IBM  Microsoft  Facebook  Instagram  WhatsApp  Oracle  Google  temporary  work  babyboomers  Baby  Boomers  self-employment  Gig  Economy  1099  Economy  Higher  Education  internship  apprenticeship  apprenticeships  exploitation  profit  maximisation  profit  maximization  shareholder  value  capitalism 
june 2016 by asterisk2a
What quality of life can minimum wage workers afford? - YouTube
&! youtu.be/9-Y7BPqj_G0 - One NYC family's struggle to survive on a fast food salary //&! Living Paycheck to Paycheck | The New York Times - youtu.be/45Ouqrnku2g //&! A Family Faces Food Insecurity in America’s Heartland - youtu.be/uV2XCQZWf_g //&! 2010, TrueNewsNetwork is more liberal conservative leaning take, against redistribution - youtu.be/F7Pq_FDIcpw //&! Poor Kids (Documentary) - Real Stories - youtu.be/i9aSp9bFmMg //&! Do minimum wage increases actually help the poor?
PBS NewsHour - youtu.be/_S0KeeGO660
working  poor  Precariat  minimum  wage  mindestlohn  working  tax  credit  child  tax  credit  in-work  benefit  subsidies  subsidizing  corporate  welfare  housing  benefit  social  mobility  income  mobility  class  warfare  USA  UK  poverty  trap  poverty  payday  loan  Loans  underemployed  underemployment  Zero  Hour  Contract  part-time  Food  Bank  Food  Stamps  living  standard  standard  of  living  quality  of  life  income  tax  credit  tax  free  income  income  redistribution  income  distribution  Gini  coefficient  child  poverty 
june 2016 by asterisk2a
Help-to-buy loan scheme nets Treasury £213m in paper profit | Money | The Guardian
[ gov is not co-owner of private property! Make away with Nurse Bursaries and other gov support for education. But support the property price! by keeping supply always lower than demand. and use policy to increase demand w subsidies! where to put their savings! & subsidy for builders ] Rising house prices across much of England mean a government scheme to help buyers of newbuild property may have made more than £200m for the Treasury in its first two-and-a-half years. The help-to-buy equity loan scheme gives buyers an interest-free loan for five years in return for a percentage stake in their property. When the home is sold, the buyer returns the same percentage of the sale price, meaning that any fall or rise in house prices affects the return. Analysis by property firm Hometrack and shared with the Guardian suggests that a surge in house prices in some areas means the total value of homes bought through the scheme since its launch in April 2013 has increased by more than £1bn.
property  bubble  UK  speculative  bubbles  Housing  Crisis  affordable  social  Help  to  Buy  Scheme  Right  to  Buy  Buy-to-Let  Help  to  Save  budget  deficit  austerity  constituency  Party  Funding  babyboomers  BOE  macroprudential  policy  mortgage  market  ZIRP  NIRP  QE  hunt  for  yield  distortion  financial  repression  household  debt  consumer  debt  credit  card  debt  Generationengerechtigkeit  generation  rent  fairness  asset  bubble  asset  allocation  NPL  subprime  Payday  Loans  car  loan  student  debt  student  loan  debt  student  loan  Tories  fiscal  policy  monetary  policy  policy  error  policy  folly  Conservative  Party  nasty  short-termism  voter  turnout  disenfranchise  disenfranchised  David  Cameron  George  Osborne  underinvestment  infrastructure  investment  productive  investment  recovery  Richard  Koo  balance  sheet  recession  deleveraging  debtoverhang  zombie  consumer  zombie  banks  zombie  corporations  secular  stagnation  Privatisation  trickle-down  economics  dogma  ideology  GFC  bank  bailout  subsidies  subsidizing  corporate  welfare 
february 2016 by asterisk2a
BBC Documentary - The Money Trap - How Banks Control the World Through Debt - YouTube
most profitable credit card debt customers are those making just the minimum payment. ... a credit card being a statement of status! retaining customers by upgrading them regularly w higher limits, new colors, new perks (they will never use). // unsecured lending - DEFINITION of 'Unsecured Loan' A loan that is issued and supported only by the borrower's creditworthiness, rather than by a type of collateral. An unsecured loan is one that is obtained without the use of property as collateral for the loan. // revolving debt // the higher your credit limit, the more you are likely to spend. // half of his income to just serve credit card fees and interest charges (no payments towards paying down) debt ... // banks lend irresponsibly bc they know they can get away with it, or somebody else will do it! because there is not regulation. no bank oversight. //&! The Truth about Payday Loans :Young, British and Broke - youtu.be/-yWxTvffbuE //&! Gambling/Betting Shops on Highstreet.
retail  banking  investment  banking  CDO  CDS  subprime  credit  card  debt  credit  card  financial  literacy  household  debt  mortgage  market  Payday  Loans  exploitation  debt  servitude  student  loan  debt  Bubble  property  ethics  moral  beliefs  revolving  debt  consumer  debt  debtoverhang  debt  Super  Cycle  student  debt  private  debt  status  symbol  instant  gratification  status  anxiety  socioeconomic  status  zombie  consumer  consumerist  consumerism  Protection  overdraft  materialism  crony  capitalism  capitalism  NPL  NINJA  Wall  Street  profit  maximisation  shareholder  value  bonuses  bonus  financial  incentive  incentive  creditrating  credit  creditrisk  credit  score  self-regulation  Bank  Oversight  financial  instruments  derivatives 
january 2016 by asterisk2a
How Credit Cards Tax America
But there’s a reason companies reward you for using credit cards. In America, credit cards are banks’ most profitable lending business. This is the aspect of credit cards that consumer advocates usually criticize: banks charge interest rates of 15% to 20% on $700 billion in outstanding credit card loans. Yet even if you pay your bill on time, Visa, Mastercard, and the banks still make lots of money off you. Every year, they earn more than $40 billion from transaction fees. At 2%, the average credit card fee can seem small. Sixty-three percent of American adults have a credit card, though, even more have debit cards that work similarly, and Americans use both to spend trillions of dollars each year. It adds up. // via https://redd.it/4063tj
credit  card  debt  credit  card  consumer  debt  Payday  Loans  Precariat  working  poor  retail  banking 
january 2016 by asterisk2a
Homelessness figures: Nearly 100,000 children in England 'homeless' - BBC News
Nearly 100,000 children in England are living in temporary accommodation after being made homeless, new figures show. // &! More & more student start work after graduation in low pay jobs not requiring a diploma, due to current job market/job creation situation in UK! Not hitting 21k repayment threshold - bbc.in/1OU0K3H - OBR show fewer are likely to start paying than was expected when the policy was introduced, [...] freezing the loan repayment threshold - alongside other changes such as replacing maintenance grants for poorer students with loans - will significantly increase the cost of going to university. It says this risks undermining pledges by successive governments to improve social mobility, as well as raising uncertainty in students' minds over the terms of their borrowing. //&! Higher education cuts 'risk NI being left behind' - bbc.in/1gZMrgj //&! Doctors warn Tories not to cut free school meals (child poverty, food poverty) bbc.in/1LewQrn
UK  property  bubble  Supply  and  Demand  Demand  and  Supply  affordable  housing  social  housing  Gini  coefficient  Generationengerechtigkeit  generation  rent  poverty  trap  child  poverty  food  poverty  austerity  Policy  Makers  dogma  ideology  neoliberalism  neoliberal  Tories  Conservative  Party  housing  market  Crisis  housing  benefit  benefits  welfare  state  social  safety  net  bank  bailout  fairness  social  cohesion  minority  constituency  error  folly  babyboomers  social  tension  Toff  Establishment  Privileged  Entitlement  general  election  2015  election  campaign  promises  Help  to  Buy  Scheme  excess  reserves  mortgage  market  Buy-to-Let  Right  to  Buy  Buy  to  Wall  Street  shareholder  value  profit  maximisation  inequality  Funding  for  Lending  Scheme  macroprudential  macroeconomic  microeconomics  disposable  income  discretionary  spending  debtoverhang  household  debt  recovery  2015  consumer  debt  debt  servitude  private  debt  Payday  Loans  Student  Loan  Millennials  generationy  secular  stagnation  low  income  prevention  job  security  job  market  labour  market  Niedriglohnsektor  Service  Sector  Jobs  job  creation  income  mobility  social  mobility  downward  mobility  precarious  work  Precariat  working  poor  University  vocational  education  professional  education  Maintenance  Student  Maintenance  child  Allowanc 
september 2015 by asterisk2a
Economist's View: 'The Effect of Payday Lending Restrictions on Liquor Sales'
The practice of short-term consumer financing known as payday lending remains controversial because the theoretical gains in welfare from greater credit access stand in opposition to anecdotal evidence that many borrowers are made worse off. [...] Our regression estimates indicate that the introduction of payday lending restrictions reduced liquor store sales by approximately 3.6% (statistically significant at the 1% level).
poverty  trap  Payday  Loans  DWP  sanctions  JSA  ESA  Iain  Duncan  Smith  GeorgeOsborne  David  Cameron  poverty  food  poverty  child  poverty  Tories  Conservative  Party  austerity  unemployment  long-term  unemployment  youth  unemployment  structural  unemployment  stigma  propaganda  populism  manufactured  consent  PR  spin  doctor  UK  substance  abuse  alcohol  abuse  apathy  sense  of  agency 
august 2015 by asterisk2a
Universities push for higher fees - BBC News
// distortion to choice of students - prospective workforce = miss allocation of resources/assets (human capital). this is not consumer choice. this is a choice that will be with the rest of your life. &! Tens of thousands of students are relying on payday loans to cover their daily living costs, a survey suggests. - bbc.co.uk/news/education-33328374
un-college  University  social  mobility  income  mobility  education  policy  Gini  coefficient  student  loan  debt  Bubble  student  debt  UK  inequality  Privileged  Toff  Establishment  Future  of  Work  practical  skills  practical  skill  set  Liberal  Arts  knowledge  worker  knowledge  economy  competitiveness  competitive  flat  world  globalisation  globalization  fiscal  policy  labour  market  labour  economics  human  capital  vocational  education  distortion  asset  allocation  capital  allocation  choice  apprenticeships  Payday  Loans  cost  of  living 
july 2015 by asterisk2a
The Real Looting of Baltimore... - YouTube
- same with mortgages linked to forex/different currency than your country of residence. // // abuse of existing instruments, not using it for intended purpose // and mis-selling of instruments and products - also see PPI ( Payment Protection Insurance ) mis-selling - http://www.bbc.co.uk/news/business-30695720 // and mis-selling forex linked loans (ie to Swiss Franc) to local governemnts and cities called Interest Rate Swap Mis-selling that got exorbinant expensive following the GFC actions (NIRP) by Central Banks (black swan) // all driven by managers meeting targets, getting and wanting bigger bonuses, wanting the bosses job, ... etc driven by cottage industry of analysts 'forecasting' that profit has to rise X% etc etc. // add also For Profit Schools! in the USA targeting Veterans & other rather financially illiterate :: youtu.be/P8pjd1QEA0c // biggest debt kind - mortgage and student loan debt // financial literacy also include gambling & lottery
Baltimore  Ferguson  mortgage  market  subprime  predatory  lending  practices  ninja  mortgage  UK  USA  Capitalism  crony  profit  maximisation  shareholder  value  foreign  currency  mortgage  bailout  corruption  abuse  of  power  CDS  MBS  lobbyist  lobby  Lobbying  revolving  door  Washington  GFC  toobigtofail  too  big  to  jail  TBTF  Gini  coefficient  financial  literacy  plutocracy  income  inequality  inequality  social  mobility  income  mobility  Western  World  Thomas  Piketty  economic  history  democracy  social  cohesion  libor  rigging  scandal  PPI  scandal  bonuses  bonus  Wall  Street  Payment  Protection  Insurance  mis-selling  Interest  Rate  Swap  banking  investment  banking  banking  crisis  American  Dream  Payday  Loans  debt  bubble  Super  Cycle  student  loan  debt  StudentLoans  lottery  gambling  downward  mobility 
may 2015 by asterisk2a
BBC News - Payday loan charges cap announced by FCA
Payday loan rates will be capped at 0.8% of the amount borrowed a day, said the Financial Conduct Authority (FCA). In total, no one will have to pay back more than twice what they borrowed, and there will be a £15 cap on default charges. The loan restrictions will start from January, the regulator said
Payday  Loans 
november 2014 by asterisk2a
NorthernSparrow comments on Student loans have hit a record high of $1.2 trillion, putting a crimp in The American Dream of owning a home and starting a family. And it’s affecting the broader economy too.
But back then you could work hard and it would pay off for you; now you work just as hard and it doesn't. Also I had the freedom to choose a lower-paying career deliberately, a career that I found fascinating. I could only do that because I had no debt. I don't understand boomers who don't realize how lucky they were and how much it has changed.
studentdebt  student  loan  debt  Bubble  student  loans  USA  Super  Cycle  Millennials  generationy  education  policy  social  mobility  income  mobility  Gerechtigkeit  fairness  Gini  coefficient  inequality  creative  destruction  Mobile  Mobile  Creatives  Future  of  Work  Year  of  Code  practical  skills  practical  skill  set  life  balance  quality  of  life  working  poor  squeezed  middle  class  babyboomers 
october 2014 by asterisk2a
To compliment John Oliver's segment on Pay Day Loans, here is Spent (2014). : Documentaries
... having a basic bank account is a utility. but banks charge exorbitant, disproportionate amounts compared in % to the monthly income, ... of the working poor & co.
pay  day  loans  Gini  coefficient  exploitation  Public  Policy  regulation  pay  day  lenders  working  poor  financial  literacy  credit  card  zombie  consumer 
august 2014 by asterisk2a
FraudBytes: Justice Department Admits They're Soft on Fraud
+ http://www.ritholtz.com/blog/2013/03/failure-to-prosecute-fraud-causes-economic-downturns/ " I am concerned that the size of some of these institutions [banks] becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy" --- In fact, failing to prosecute criminal fraud has been destabilizing the economy since at least 2007 … and will cause huge crashes in the future. [...] Nobel prize winning economist George Akerlof has demonstrated that failure to punish white collar criminals – and instead bailing them out- creates incentives for more economic crimes and further destruction of the economy in the future.
justice  GFC  ethics  fraud  josephstiglitz  white-collar  worker  NINJA  loans  white-collar  crime  Law  &  barackobama  ponzischeme  banking  crisis  criminal  fraud  George  Akerlof  subprime  bank  crisis  lostdecade  greatrecession  moralhazard  trust  economic  history  mortgage  fraud  confidence  trustagent  white-collar  fraud  USA  greatdepression  DoJ  economics  toobigtofail  presidency 
march 2013 by asterisk2a
Mortgage Modifications Are Seen as Adding to Housing Woes - NYTimes.com
The Obama administration’s $75 billion program to protect homeowners from foreclosure has been widely pronounced a disappointment, and some economists and real estate experts now contend it has done more harm than good

Some experts argue the program has impeded economic recovery by delaying a wrenching yet cleansing process through which borrowers give up unaffordable homes and banks fully reckon with their disastrous bets on real estate, enabling money to flow more freely through the financial system.

“The choice we appear to be making is trying to modify our way out of this, which has the effect of lengthening the crisis,” said Kevin Katari, managing member of Watershed Asset Management, a San Francisco-based hedge fund. “We have simply slowed the foreclosure pipeline, with people staying in houses they are ultimately not going to be able to afford anyway.”
housing  housemarket  stimulus  government  economics  USA  2009  2010  bubble  loans  mortage  foreclosure  crisis  accounting  reflate  inflate  recovery  delay  realestate 
january 2010 by asterisk2a

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